Gay Twitter Reacts to Grindr Going Public on New York Stock Exchange

Saturday November 19, 2022
Originally published on November 19, 2022

Gay Twitter Reacts to Grindr Going Public on New York Stock Exchange
  (Source:EDGE composite image)

After launching 13 years ago, the LGBTQ dating app Grindr went public on the New York Stock Exchange on Friday.

Out of the gate, shares for the app "shot up more than 300 per cent in its public markets debut after completing a merger with a special purpose acquisition company, making it one of the few businesses over the past year to have its stock price pop following a Spac deal," the Financial Times reports, adding:

"Shortly after Grindr executives rang the bell at the New York Stock Exchange on Friday, the stock leapt from an opening price of $16.90 to $71.51. The jump was likely because few shares were being traded on the market after 99 per cent of shareholders opted to redeem their investment in the Spac following the deal's completion. Spacs are listed vehicles set up to acquire target companies and take them public, and shareholders have the right to redeem their investment when they approve the merger."

CNBC reports there was an event for the occasion with some "RuPaul's Drag Race" stars in attendance who "performed on a rainbow stage set in the front of the New York Stock Exchange."

On Twitter, users posted photos of the New York Stock Exchange building, which is seen covered in a massive Grindr flag with other Grindr branding, including its slogan "0 feet away." There were also photos of the Fearless Girl statue in front of the building as well as videos of Grindr's employees ringing the New York Stock Exchange bell.

Gay Twitter didn't hold back in reacting to Grindr going public. Find some of the best responses below.